Arizona Laws 32-3603. Registration, license or certificate use; exception
A. All real estate appraisals and appraisal reviews performed on real property in this state shall be performed only by individuals who are registered, licensed or certified in accordance with the requirements of this chapter. No person, other than a registered trainee appraiser or a state-licensed or state-certified appraiser, may assume or use that title or any title, designation or abbreviation likely to create the impression of registration as a trainee appraiser or licensure or certification as an appraiser by this state.
Terms Used In Arizona Laws 32-3603
- Appraisal: A determination of property value.
- Appraisal review: means the act of reviewing or the report that follows a review of an appraisal assignment or appraisal report in which a real estate appraiser forms an opinion as to the adequacy and appropriateness of the report being reviewed. See Arizona Laws 32-3601
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Real estate: means an identified parcel or tract of land, including improvements, if any. See Arizona Laws 32-3601
- real estate appraisal: means a statement that is independently and impartially prepared by an individual setting forth an opinion as to the market value of real property as of a specific date and supported by the presentation and analysis of relevant market information. See Arizona Laws 32-3601
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: means one or more defined interests, benefits and rights inherent in the ownership of real estate. See Arizona Laws 32-3601
- Registered trainee appraiser: means a person who meets both of the following requirements:
(a) Is registered with the deputy director and meets the appraiser qualifications board's qualifications for trainee appraisers to perform appraisal services only under the direct supervision of a certified appraiser who has met the minimum criteria to be a supervisory appraiser. See Arizona Laws 32-3601
- State-licensed or state-certified appraiser: means a person who develops and communicates appraisals and who holds a current, valid license or certificate issued under this chapter. See Arizona Laws 32-3601
- Supervisory appraiser: means a state-certified appraiser who has a supervisory appraiser designation and who:
(a) Has been in good standing for the last three years in the jurisdiction in which the registered trainee appraiser practices. See Arizona Laws 32-3601
B. No person other than a state-licensed or state-certified appraiser may receive a fee for a real estate appraisal or an appraisal review of real property in this state. This subsection does not prohibit a supervisory appraiser from remitting compensation to a registered trainee appraiser during the course of training.